fbm
Blue tinted optimist⭐🦐
Wow, what a day.
@Awooga, if I'd got home earlier, I would have been with you. Maybe next time and thanks for the offer.
@CllrDanielCowan Thanks for your efforts today, I would imagine it was draining.
To those who think the Martin dynasty will lose everything... I doubt it. Their companies still own FF and RH. They probably don't have any personal guarantees. Owning limited companies means that any liability is limited to the company assets. It doesn't come back on the owners. As has previously been stated, Ron has nothing anymore. None of this is illegal, by the way. It's how everything works. People might bleat about the immorality of it, but if it were different no-one would ever start anything because of the risk.
So whilst the land value of RH is leveraged to it's value - that means no commercial lender will lend against it - the land with development potential is worth probably 10 times that. If it all goes wrong, Ron can just sell to developers and walk off into the sunset. The council can hold things up a bit (presumably until the next council elections when the council may change) but if there is no club to enforce the covenant, then they would I'm sure not allow RH to fall into disrepair and become a huge eyesore on the main route into the city. Plus they won't be dealing with RM any more. The whole picture changes.
The one thing that there has been little focus on is who is going to pay the WUP? Nothing else is really of relevance. If COSU pay it, then the club continues and we escape the embargo and a potential points deduction. If they walk away, we are gone. Finished. That's it. So when many say that COSU should walk away, that does mean the club dies. Everyone needs to know that. I get the weariness of it because of everything that's gone on, but there isn't even the barbed benefit of taking the Martin's down with us.
Ron will not - in my opinion - be offering any extra security because if he was prepared to do that, why not just pay off the WUP?
And let's just say they stick to the deal agreed today, COSU pay off everything and we crack on, what's to stop Ron and Jack saying on Thursday "Oh we'd just like to amend the planning application a bit." They can't stop them doing that and while it can be refused, it just delays matters.
The Martin family know that the club is massive and thousands of people will do anything to keep it alive. They have a huge safety net by owning the land assets and nothing to lose really.
In short, it's ****ing depressing.
@Awooga, if I'd got home earlier, I would have been with you. Maybe next time and thanks for the offer.
@CllrDanielCowan Thanks for your efforts today, I would imagine it was draining.
To those who think the Martin dynasty will lose everything... I doubt it. Their companies still own FF and RH. They probably don't have any personal guarantees. Owning limited companies means that any liability is limited to the company assets. It doesn't come back on the owners. As has previously been stated, Ron has nothing anymore. None of this is illegal, by the way. It's how everything works. People might bleat about the immorality of it, but if it were different no-one would ever start anything because of the risk.
So whilst the land value of RH is leveraged to it's value - that means no commercial lender will lend against it - the land with development potential is worth probably 10 times that. If it all goes wrong, Ron can just sell to developers and walk off into the sunset. The council can hold things up a bit (presumably until the next council elections when the council may change) but if there is no club to enforce the covenant, then they would I'm sure not allow RH to fall into disrepair and become a huge eyesore on the main route into the city. Plus they won't be dealing with RM any more. The whole picture changes.
The one thing that there has been little focus on is who is going to pay the WUP? Nothing else is really of relevance. If COSU pay it, then the club continues and we escape the embargo and a potential points deduction. If they walk away, we are gone. Finished. That's it. So when many say that COSU should walk away, that does mean the club dies. Everyone needs to know that. I get the weariness of it because of everything that's gone on, but there isn't even the barbed benefit of taking the Martin's down with us.
Ron will not - in my opinion - be offering any extra security because if he was prepared to do that, why not just pay off the WUP?
And let's just say they stick to the deal agreed today, COSU pay off everything and we crack on, what's to stop Ron and Jack saying on Thursday "Oh we'd just like to amend the planning application a bit." They can't stop them doing that and while it can be refused, it just delays matters.
The Martin family know that the club is massive and thousands of people will do anything to keep it alive. They have a huge safety net by owning the land assets and nothing to lose really.
In short, it's ****ing depressing.
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